Posted on Monday 27 July 2009 - 06:40
Sam Banda Junior
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Sam Banda Jnr, AfricaNews reporter in Blantyre, Malawi
Angola plans to build about one million homes for its poor people in the next five years with support from Unites States of America.This comes after the southern African country has also made strides overtaking Nigeria as the continent's biggest oil producer.
Angola map
The country with increasingly politically stable, safer and more attractive to foreign oil companies, is said to have slowly increased its output and that it has potential for greater production over the next few years.

US ambassador to Angola Dan Mozena was quoted as saying that the US will loan the southern African country $400 million for the construction of the one million homes for the poor.

A Reuters report quoted the Angolan government as saying that the one million new homes, to be built in four years, are expected to cost $50 billion.

The report further said that the purpose of building the homes was to bring down real-estate prices in Luanda -- one of the world's most expensive cities -- and lift millions of people living in crowded settlements around Luanda out of poverty.

The southern African country has made a tremendous progress in infrastructure development since it suffered a civil war which lasted for years.

Angola is also expected to hold the African Cup of Nations in 2010.
africanews